Chile targets faster permits to unlock $100B pipeline

Chile is moving to accelerate mining permit approvals to unlock more than $100 billion in investment and revive momentum in its cornerstone copper sector, Economy and Mining Minister Daniel Mas said in an interview published on Monday.

Mas told Santiago-based La Tercera newspaper that the government was working “with a sense of urgency” to guarantee legal certainty, clarify rules and reduce bottlenecks. A new sectoral permitting framework is expected to simplify roughly 200 procedures and cut processing times by 30% without lowering environmental standards.

“Our goal is to simplify, streamline, and provide rapid responses because we know that behind every stalled project, there are lost jobs and families whose hopes are dashed,” Mas said.

The reforms aim to restore Chile’s appeal to investors as major projects re-enter the pipeline and exploration activity gains traction. 

Mining remains central to the country’s economy, underpinning growth, investment and government revenue. Officials estimate faster approvals alone could generate more than 20,000 permanent jobs.

Multibillion pipeline

Recent activity suggests improving sentiment, with more than $17 billion in projects entering environmental review in recent weeks. These include the $7.5 billion El Abra continuity project by Freeport-McMoRan (NYSE: FCX) and Codelco, BHP’s (ASX: BHP) $5.2 billion Escondida concentrator, and Albemarle’s (NYSE: ALB)  $3.1 billion “Transition to Direct Lithium Extraction (TED)” project.

Mas said the government is also preparing additional legal and administrative changes to further reduce regulatory burdens, while prioritizing exploration, project expansions and the reprocessing of tailings and secondary minerals.